The acquisition of Ruth's Chris in June 2023 added 80 net company-owned restaurants, significantly expanding Darden's presence in the fine dining segment. This strategic move is expected to drive future growth and synergies.

Darden entered into an agreement on July 17, 2024, to acquire all outstanding shares of Chuy's Holdings for approximately $605 million. This acquisition will add the Chuy's Fine Tex-Mex brand to Darden's portfolio, further diversifying its offerings.

Darden plans to open 45-50 new restaurants in fiscal 2025, demonstrating a commitment to continued expansion. This includes openings across various brands, contributing to overall sales growth.

Darden's operating philosophy remains focused on strengthening core operational fundamentals by providing an outstanding guest experience rooted in culinary innovation, attentive service, engaging atmosphere, and integrated marketing.

Darden continued a multi-year effort to implement new technology platforms that allow the company to digitally engage with guests and team members and strengthen marketing and analytics capabilities.

Darden's consolidated restaurant management turnover rate of 16% was also significantly lower than the broader restaurant industry benchmark, indicating effective management and employee retention strategies.

The company acknowledges that its results of operations depend significantly on its ability to anticipate and react to changes in the price and availability of food, ingredients, labor, health care, utilities, fuel and other related costs over which it may have little control.

The company's business results depend on a number of industry-specific and general economic factors, many of which are beyond its control, and may adversely affect consumer behavior and its results of operations.

The company's long-term growth depends substantially on its ability to recruit and retain high-quality team members to work in and manage its restaurants. Adequate staffing and retention of qualified restaurant team members is a critical factor impacting guests' experience in its restaurants.

The company acknowledges that the full-service dining sector of the restaurant industry is intensely competitive with respect to pricing, service, location, personnel, take-out and delivery options and type and quality of food.

The company's good reputation of its restaurant brands is a key factor in the success of its business. Actual or alleged incidents at any of its restaurants could result in negative publicity that could harm its brands.

Consumers are continually changing health and dietary preferences. As a result, our diverse portfolio of restaurant brands are continually challenged to evolve our menu offerings to appeal to these changing customer preferences, while maintaining our brand character and retaining popular menu items.

The company attempts to leverage its size to achieve economies of scale in purchasing, but there can be no assurances that it can always do so effectively.

The company continues to drive automation of its supply chain by collaborating with its suppliers, logistics partners and distributors to improve optimization with information visibility and other technological advances.

The company strives for leadership in the restaurant business by using technology as a competitive advantage and as an enabler of its strategy. The strategy is to fully integrate systems to drive operational efficiencies and enable restaurant teams to focus on restaurant operations excellence.

The company has implemented technology-enabled business solutions to improve financial control, cost management, guest service and employee effectiveness, as well as enable e-commerce.

All of the company's brands share a secure, robust digital platform with online ordering and other guest-facing capabilities. The company also has deployed mobile applications with online ordering and other features for all of its casual dining brands and for most of its specialty restaurant brands.

The company maintains a robust system of data protection and cybersecurity resources, technology and processes. It regularly evaluates new and emerging risks and ever-changing legal and compliance requirements.

The company expects capital expenditures incurred to build new restaurants, remodel and maintain existing restaurants and technology initiatives to be between $550 million and $600 million.

On March 20, 2024, the company's Board of Directors authorized a new share repurchase program under which it may repurchase up to $1 billion of its outstanding common stock.

On June 19, 2024, the Board of Directors declared a cash dividend of $1.40 per share to be paid August 1, 2024 to all shareholders of record as of the close of business on July 10, 2024.

During fiscal 2024, the company remained focused on its climate strategy, restaurant sustainability metrics and Darden's Animal Welfare Council. The company will continue to adapt its sustainability approach with development or enhancement of integrated and strategic priorities.

Greenhouse gas emissions per restaurant intensity ratio decreased from 412 metric tons CO2e in fiscal 2022 to 400 in fiscal 2024.

In fiscal 2024, the Foundation awarded approximately $4.3 million in grants to national organizations as well as local nonprofits including Second Harvest Food Bank of Central Florida and the Heart of Florida United Way.

The company acknowledges that the restaurant industry is intensely competitive with respect to the type and quality of food, price, service, restaurant location, personnel, brand, attractiveness of facilities, availability of carryout and home delivery, internet and mobile ordering capabilities and effectiveness of advertising and marketing.

The long-term effects of climate change and global warming will result in more severe, volatile weather or extended droughts, which could increase the frequency and duration of weather impacts on operations.

Consumers are continually changing health and dietary preferences. As a result, our diverse portfolio of restaurant brands are continually challenged to evolve our menu offerings to appeal to these changing customer preferences, while maintaining our brand character and retaining popular menu items.